Australian bookmaker opens Bitcoin wagering

5th February 2018 / lee

There has been some new ground broken in online betting as a new online bookmaker in Australia, called Neds, launched the country’s first Bitcoin-based betting platform.

The operator announced last week that they would launch their new betting platform, which has been developed in-house, and is opening with Bitcoin-only trading on the site. There are plans to add other cryptocurrencies this year if there is enough demand to warrant it.

Neds explained that they are accepting deposits and are issuing payouts in Bitcoin, but without any options to convert. The odds on the Bitcoin version of the Neds site will be identical those at their regular, main betting site, just instead that the wagers will be traded in milli-Bitcoins (one-thousandth of a Bitcoin).

Neds CEO Paul Cherry explained that the drive was there to create something amidst all the of the Bitcoin frenzy, and it afforded people who had bought Bitcoins but didn’t know what to do with them, a chance to use them in a new way.

The operator is also offering to cover up to 2.5% of any transaction fees that are incurred by moving Bitcoins to the Ends site. Neds was created by former Ladbrokes Australia CEO Dean Shannon and they launched their operator in October 2017.

Mentioned offers may be restricted to new customers, T&C's apply. Older offers may be not valid anymore. See details directly at the bookmaker's website. 18+. Please Gamble Responsibly.

* All mentioned odds were valid at the time of writing. Betting odds are subject to fluctuations. Please check the current odds with the respective bookmaker!